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Corp Tax

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Corp Tax

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by Tax Tutor.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • February 14, 2018 at 4:35 pm #437244
    determined016
    Member
    • Topics: 24
    • Replies: 4
    • ☆

    Good day Sir,

    can trading losses be carried forward and deducted from property income. Like for example the company only have profits from property income?

    Thanks you

    February 14, 2018 at 5:05 pm #437257
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    The trading losses of a trading company will only be c/f against future trading profits of that trade – not against property income. If the only income it has is from its property business then any such losses of that business will be c/f against that future business property income

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